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+--- Thread: Difference between free market economy and a social market economy? (/thread-111249.html)
Difference between free market economy and a social market economy? - masterxarai - 03-18-2014 06:29 PM
can you also give a current example of each?
- Anjaree - 03-18-2014 06:39 PM
Free market economy==USA
Socialist market economy==Canada.
A long line waiting to be hospitalized in Canada.
A long line waiting in front of ATM in the US.
- Pricele$$ - 03-18-2014 06:48 PM
A free market economy is privatization of goods and services. Individuals such as firms and households have a lot of consumer and production sovereignty. The government has little interference in a free market economy. A social market economy has limited consumer and production sovereignty for individuals compared to a free market and is heavily regulated by the government. One example is levying higher taxes on businesses and high income earhealth careovide universal healthcare and education for everyone.